Seek 'Wisdom of Crowds' re CD Rates
OK, 'Crowd', do you think CD rates will go up or down in the short term? I guess this is an inflation-related question, but what other factors are in play? (Like maybe will the FDIC actually have funds available?)
I'm looking at Bankrate.com where WaMu is offering 5.00% APY on a 1-year CD and Corus Bank (near me) is offering 4.60% APY/1 year. The Bankrate table shows 1-year CDs holding even -- no ups or downs.
Given that neither of these one-star banks' offerings beat inflation anyway...what's a person to do? (Will not exceed $100,000 per CD, including projected interest.)
NB: Holding checks from Countrywide on matured CD's that paid 5.65%.